FILE PHOTO-Italy's Minister of Economy and Finance Giancarlo Giorgetti delivers a speech at the G7 High-Level Corporate Governance Roundtable in Niigata on May 11, 2023.
"It may be that the tax is inappropriate, it can certainly be improved upon ... but I do not accept that it is considered an unfair tax," Giorgetti said at The European House - Ambrosetti economic forum.
Bank shares tumbled before the economy ministry clarified that the new tax would amount to no more than 0.1% of their total assets.
Forza Italia is also seeking an exemption for small banks and wants a guarantee the levy will not be extended beyond 2023.
Giorgetti did not comment on his government ally's proposals on the bank tax.
Persons:
Finance Giancarlo Giorgetti, KAZUHIRO, Giancarlo Giorgetti, Giorgetti, Antonio Tajani, Siena, Giselda Vagnoni, Giancarlo Navach, Hugh Lawson, David Evans
Organizations:
Economy, Finance, Bank, League, Forza Italia, Monte, Thomson
Locations:
Niigata, Italy, Cernobbio